NGOs urge no green label for fossil fuel investments | International

BRUSSELS, Belgium, Sept 30, 2025 (BSS/AFP) - Fossil fuel developers should be excluded from financial investments labelled sustainable, NGOs and associations urged on Tuesday, as part of any reform of the European Union's green finance transparency rules. More than 120 signatories including organisations such as Reclaim Finance, financial institutions as well as legal experts urged Brussels in an open letter to offer "sufficient safeguards to prevent greenwashing". The European Commission will propose how to revise the 2021 rules known as the Sustainable Finance Disclosure Regulation later this year. Under the current rules, there are three different labels to help investors gauge the sustainability of financial products. The highest level must have a sustainable investment objective, while products categorised at the...